Past year: ▼ 100%(0.00c – 1.00c USD)
Each one in plain English, with the numbers worked through for a shareholder.
2 Mar 2015capital raising announcement● Neutral
Walter agreed to issue 8,650,000 new shares to one noteholder in exchange for $66.725 million of its 8.5% senior notes due 2021, which will be retired and cancelled with no cash received. This extends the debt-for-stock swaps from the 2020 notes to the 2021 notes, and dilutes existing shareholders.
18 Nov 2014capital raising announcement● Neutral
Walter agreed to issue 3,900,000 new shares plus $5.2 million in cash to two noteholders in exchange for $52 million of its 9.875% senior notes due 2020, which will be retired and cancelled. This is the largest of the 2020-note swaps so far and further dilutes shareholders, while paying cash to retire the notes.
11 Aug 2014capital raising announcement● Neutral
Walter agreed to issue 2,250,000 new common shares to one noteholder in exchange for $25 million of its 9.875% senior notes due 2020, which will be retired and cancelled, with no cash received. This continues the debt-for-stock swaps begun in April 2014 and dilutes existing shareholders somewhat.
25 Apr 2014capital raising announcement● Neutral
Walter agreed to issue 3,150,000 new common shares to one noteholder in exchange for $35 million of its 9.875% senior notes due 2020, which will be retired and cancelled. No cash comes in; the company says the aim is to reduce debt and interest cost and it may do more such exchanges. For shareholders this means some dilution, and it follows the company's earlier debt-raising in 2013-2014.
19 Nov 2012capital raising announcement● NeutralMajor
On November 16, 2012 Walter priced a $500.0M private offering of 9.875% senior notes due 2020, with interest paid June 15 and December 15 starting June 15, 2013, guaranteed by its wholly-owned domestic restricted subsidiaries. It plans to use the net proceeds to repay credit facility debt, pay fees and for general corporate purposes. This is the $500M unsecured notes issue contemplated in the October 2012 credit amendment, and its size meets the amendment's threshold for the covenant and margin changes.
29 Nov 2006capital raising announcement▼ BadMajor
Walter agreed to convert a combined $99,120,000 of its 3.75% convertible notes into 5,553,723 common shares, paying a $13,031,200 inducement premium plus $638,355.41 in accrued interest and other consideration. It also announced the board rescinded the previously announced two-for-one stock split after resolving civil lawsuits with two noteholders, CC Arbitrage and CNH CA Master Account, so the split dividend declared on November 9 will not happen. The spin-off dividend of Mueller shares is not mentioned as rescinded.
22 Nov 2006capital raising announcement● Neutral
Walter agreed with a holder to convert $7,257,000 of its 3.75% convertible notes into 406,611 common shares, paying a $616,845 inducement premium plus $15,874.70 accrued interest. It continues the wave of note conversions.
21 Nov 2006capital raising announcement● Neutral
Walter agreed with several holders to convert a combined $22,073,000 of its 3.75% convertible notes into 1,236,755 common shares, paying a $1,983,470 inducement premium plus $45,847 accrued interest. It continues the wave of note conversions.
13 Nov 2006capital raising announcement● Neutral
Walter agreed with a holder to convert $2,700,000 of its 3.75% convertible notes into 151,281 common shares, paying a $243,000 inducement premium plus $2,531.25 accrued interest. It continues the series of note conversions ahead of the dividend record date.
3 Nov 2006capital raising announcement● Neutral
Walter agreed with one holder to convert $11,000,000 of its 3.75% convertible notes into 616,333 new common shares, paying a $1,100,000 inducement premium plus $1,145.83 accrued interest. This cuts the company's convertible debt and adds shares, so existing holders own a smaller slice.
